Insider Buying: Fortune Brands Innovations, Inc. (NYSE:FBIN) EVP Purchases 483 Shares of Stock

Fortune Brands Innovations, Inc. (NYSE:FBIN) EVP Kristin Papesh bought 483 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average price of $61.99 per share, for a total transaction of $29,941.17. Following the completion of the transaction, the executive vice president now directly owns 7,617 shares of the company’s stock, valued at $472,177.83. This represents a 6.77 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

Fortune Brands Innovations Trading Up 1.2 %

Shares of FBIN stock opened at $63.13 on Friday. Fortune Brands Innovations, Inc. has a 12-month low of $60.81 and a 12-month high of $90.54. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90. The stock’s 50-day moving average price is $69.24 and its 200-day moving average price is $76.90. The stock has a market capitalization of $7.74 billion, a price-to-earnings ratio of 16.83, a price-to-earnings-growth ratio of 2.00 and a beta of 1.53.

Fortune Brands Innovations (NYSE:FBIN) last issued its earnings results on Thursday, February 6th. The company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.07). Fortune Brands Innovations had a return on equity of 22.05% and a net margin of 10.24%. Equities research analysts predict that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be given a $0.25 dividend. The ex-dividend date is Friday, February 21st. This represents a $1.00 annualized dividend and a yield of 1.58%. This is a positive change from Fortune Brands Innovations’s previous quarterly dividend of $0.24. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 26.67%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on FBIN shares. Royal Bank of Canada lowered their target price on Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating on the stock in a research report on Friday, February 7th. The Goldman Sachs Group decreased their price target on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Barclays decreased their price target on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating on the stock in a report on Friday, February 7th. Evercore ISI decreased their price target on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating on the stock in a report on Thursday, November 7th. Finally, UBS Group decreased their price target on Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $86.64.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brooklyn Investment Group purchased a new position in Fortune Brands Innovations in the third quarter worth about $25,000. Flagship Wealth Advisors LLC purchased a new position in Fortune Brands Innovations in the fourth quarter worth about $31,000. Wingate Wealth Advisors Inc. purchased a new position in Fortune Brands Innovations in the fourth quarter worth about $55,000. IFP Advisors Inc grew its position in Fortune Brands Innovations by 47.6% in the fourth quarter. IFP Advisors Inc now owns 853 shares of the company’s stock worth $62,000 after acquiring an additional 275 shares in the last quarter. Finally, Siemens Fonds Invest GmbH purchased a new position in Fortune Brands Innovations in the fourth quarter worth about $76,000. Hedge funds and other institutional investors own 87.60% of the company’s stock.

About Fortune Brands Innovations

Fortune Brands Innovations, Inc provides home and security products for residential home repair, remodeling, new construction, and security applications in the United States and internationally. The company operates through three segments: Water, Outdoors, and Security. The Water segment manufactures or assembles, and sells faucets, accessories, kitchen sinks, and waste disposals under the Moen, ROHL, Riobel, Victoria+Albert, Perrin & Rowe, Aqualisa, Shaws, Emtek, and Schaub brands.